Table 5-4
The table below reports nominal and real GDP for the U.S. from 1929 to 1932.

-Refer to Table 5-3. What is the GDP deflator and the inflation rate for 1932?

Question

Table 5-4
The table below reports nominal and real GDP for the U.S. from 1929 to 1932.
 
-Refer to Table 5-3. What is the GDP deflator and the inflation rate for 1932?

Quizplus · Accepted Answer

The GDP deflator for 1932 is 8.09, and the inflation rate is -11.7%. The GDP deflator is a measure of the level of prices of all new, domestically produced, final goods and services in an economy, and the negative inflation rate indicates a decrease in the price level from the previous year.

Table 5-4 the Table Below Reports Nominal and Real GDP for the for the U.S